Rubies are well known for their bright red color, but many don't know very much else about them. Although there are a few places throughout the world that fine rubies can be found, Burma (now referred to as Myanmar) is known to produce the highest quality stones. These are referred to as Burmese rubies. While smaller rubies of high quality and with a superb color are not too rare, larger stones with the same features are indeed highly unusual. This is why the 15.99-carat ruby called the Jubilee Ruby is an extremely important piece, as is its upcoming sale this April at the Christie's Magnificent Jewels Sale in New York City. Read about all the most frequently asked questions about rubies.
The exceptional ruby gemstone is set in a Verdura platinum and yellow gold ring setting. The oval ruby of phenomenal color and quality weighs in at 15.99 carats, making it the largest ruby to be auctioned in the US in over two decades. (A 16.20-carat Burmese ruby sold at Christie's New York back in 1990.) The crimson gem is surrounded by a row of colorless diamonds and is estimated to bring in between $12 million and $15 million.
Though the Jubilee Ruby is truly one of a kind, there have been stones of similar size, quality, and color that sold for sums comparable to this jewel's price estimate. Last year, a 25.59-carat ruby sold for an astounding $30.3 million at a Sotheby's jewelry auction, coining it the most expensive ruby on the planet. Another memorable ruby that broke a record is the Crimson Flame Ruby, a15-carat pigeon-blood Burmese ruby that sold at a Christie's Hong Kong sale in 2015 for $18 million. That translates into $1.2 million per carat, a new record for rubies.
Rubies are among the rarest and most precious gemstones in the world, along with diamonds, emeralds, and sapphires. Unlike these latter stones, rubies over 15 carats in size are extremely rare and hard to come by. This is what makes the gem extremely unusual and intriguing. Rubies have been found all around the globe but the finest rubies have been discovered in Burma, specifically within a region that is two miles long and half a mile wide. Browse through Leibish's collection of ruby jewelry.
The impending sale of this fine specimen is exciting as are the upcoming sales of additional jewels like the 10.07-carat fancy intense purple-pink diamond ring and the 40.43-carat circular-cut perfect D color flawless diamond. The auction, which will take place on April 20 in New York City, will surely see historical sales take place, as it is the date that marks Christie's 250th anniversary.